The possible participation of Finland in the Stage III of the European Monetary Union would constitute a major change in the operating environment of the Finnish economy. As a member of the common currency area, Finnish interest and exchange rates would no longer be determined by domestic monetary policy or domestic financial market reactions, but would instead be given by the European Central Bank and the European financial markets.
Economists have for a long while sought ways to model the mechanisms that generate business cycles but have found it difficult to find models that describe the erratic behavior of business cycles, which can often not be explained by shocks to the
Evidence suggests that after a period of convergence in the early and mid-1990s, the euro area economies may have started diverging. As a consequence, the common monetary policy could become well-suited for a number of countries. This paper studies the extent and
I introduce Expectational Business Cycles where aggregate activity fluctuates due to learning, heterogeneous updating rules and random changes in the social norm predictor. Agents use one of two updating rules to learn the equilibrium values while heterogeneity is dictated via an evolutionary
This thesis analyzes the product cycles of five different product groups within the Swedish machinery export during the time period 1964-2003.The result is that even though Sweden is a preferable region to launch new products and adopt new technologies, according to the